2 reasons why NODX could make a rebound in coming months

PMI and new export orders still rising.

Singapore's non-oil domestic exports has stayed in the red for a fourth straight month in May 2013 as it fell by -4.6% YoY (Apr 2013: -1.0% YoY; Consensus: -0.2% YoY), mainly on weakness in electronic exports, noted Maybank Kim Eng.

But the research firm is taking heart of positive economic trends that could suggest a rebound in the months ahead.

"Hope floats for a better NODX showing in the coming months as Singapore's manufacturing purchasing managers index (PMI) is on an improving trend In particular, the new exports orders subindex rose for the third consecutive month (May 2013: 52.9; Apr 2013: 50.6), lifted especially by new exports orders for electronics (May 2013:53.3; Apr 2013: 53.1)," said Maybank.

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